After the Decline of the Tang Empire, the States That

question 38

Multiple Choice

After the decline of the Tang Empire, the states that emerged were

• A)Qin, Han, and Yuan.
• B)Mongolia, Manchuria, and Koryo.
• C)Tanggut, Song, and Liao.
• D)Jurchen, Manchuria, and Siberia.
• E)Turkmenistan, Guanjo, and Siam.

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Definitions:

Economically Efficient

A state where resources are allocated in a way that maximizes the net benefit to society.

Market System

A financial system where investment, production, and distribution decisions are dictated by price signals resulting from the interplay of supply and demand forces.

Fundamental Question

Fundamental Question refers to the basic questions any economic system must answer, which include what to produce, how to produce, and for whom to produce.

Guiding Function

The role of prices in directing the allocation of resources and goods in an economy, ensuring resources are used where they are most valued.